February 4, 2020
JLL Capital Markets arranged $30 million for the development of Roystone, a 93-unit, boutique multi-housing project with ground-floor retail in Seattle’s desirable Lower Queen Anne neighborhood. JLL worked on behalf of Seattle-based Vibrant Cities to secure the construction financing through First Interstate Bank.
Due for completion in fall 2021, the eight-story building will include luxury residences with underground parking and a rooftop deck offering views of downtown Seattle, the Space Needle and Elliott Bay. The project will also feature small-scale, street-level retail totaling 3,814 square feet that will contribute to the neighborhood’s pedestrian-friendly character. Amenities will include a lobby-level resident lounge, fitness room and clubhouse.
Vibrant Cities’ Pui Leung notes, “… this project will be the first eight-story apartment community built under Seattle’s up-zoned code in Queen Anne, one of city’s most desirable neighborhoods.”
JLL’s debt placement team representing Vibrant Cities was led by Brandon Roth, Zack Goodwin and Matt Pelpel.
For comments, questions or concerns, please contact Dennis Kaiser